Well, teething tablets can help but certainly won't eliminate the pain. Think about it like this: a molar is like 4 regular teeth all coming in at once. My daughter had no discomfort with the top two, which came in slowly and gently. But the bottom two were MISERABLE, and they pushed their way out all at once (bleeding gums and all!). Teething tablets helped but not a whole lot.
I only once or twice gave her Tylenol or Motrin (allegedly Motrin is stronger and lasts longer). But I don't like giving her these drugs, especially as they cause constipation in her.
What I found helped was giving her some chamomile in addition to the teething tablets - and when she was very restless and irritable at bedtime, maybe some calms forte (both of these are homeopathic medicines distributed by Hyland's, who makes the teething tablets you found).
Additionally, a little baby orajel will help to numb the pain --- the nighttime formula can only be administered every 4 hours or so, but you may find it works better than the standard formula. Q-tip application helps to get it exactly where it needs to be.
And during the day -- frozen stuff! My daughter loved to chew on small bits of frozen Pedialyte pops, ice cube chunks and frozen blueberries. (Of course, she's also a fan of those when NOT teething, but I think they WERE soothing when she was getting those molars in).
Finally, be sure to offer easy to eat foods. Soft & easy to swallow. Applesauce, yogurt, purees. They'll be less frustrating to a baby with sore gums.
And - YES - it IS that bad. Dentists have been known to say that if as adults we had to go through the pain and discomfort that babies must endure in acquiring teeth, we'd have gone extinct from suicide. Sure, some kids seem not to notice it, but they are in the very small minority. And I predict they have some better coping mechanism that makes them less irritable in some way.